Glass Lewis, ISS in favour of Bayer management but against pay package

The recommendations from Institutional Shareholder Services (ISS) Inc and Glass Lewis are typically followed, and may provide some breathing room for the top brass of Germany’s Bayer, which has lost tens of billions of euros in value since its Monsanto acquisition in 2018. (A Bayer Pharmesutical factory in Germany.)

FRANKFURT: Two shareholder proxy services recommended that investors vote in support of Bayer AG chief executive officer Werner Baumann’s team at this month’s annual meeting, but against a compensation package they termed excessive.

The recommendations from Institutional Shareholder Services (ISS) Inc and Glass Lewis are typically followed, and may provide some breathing room for the top brass of Germany’s Bayer, which has lost tens of billions of euros in value since its Monsanto acquisition in 2018.